#Hong Kong is accelerating the issuance of virtual asset licenses.#

The Securities and Futures Commission (SFC) in Hong Kong has announced the expansion of its expedited licensing process to all new applicants for virtual asset trading platform licenses. The aim is to accelerate the approval process for fully compliant platforms and establish a robust regulatory framework for the Hong Kong virtual asset industry. The new licensing approach requires applicants to implement internal compliance measures and undergo external assessments, with the SFC overseeing the entire assessment process. This signifies that Hong Kong is accelerating the issuance of virtual asset licenses, creating a clearer regulatory environment for the industry's development. Since December 2024, four platforms have been granted the expedited licensing process. The SFC has released relevant guidelines and inspection findings in its latest circular, further clarifying regulatory standards. This demonstrates the SFC's active role in promoting the development of the virtual asset industry and its commitment to establishing a safe, transparent, and sustainable regulatory framework.